Analysts Set $32.50 Price Target for Southside Bancshares, Inc. (SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI) has received a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.

Analysts have set a 1-year consensus price target of $32.50 for the company and are anticipating that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given Southside Bancshares an industry rank of 162 out of 255 based on the ratings given to related companies.

Several equities analysts have recently issued reports on SBSI shares. Zacks Investment Research upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, January 1st. BidaskClub upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th.

Shares of SBSI stock opened at $33.86 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.76 and a quick ratio of 0.76. Southside Bancshares has a 52 week low of $29.28 and a 52 week high of $37.32. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 16.05 and a beta of 0.77.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, February 1st. The bank reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.08). Southside Bancshares had a net margin of 27.47% and a return on equity of 9.94%. The company had revenue of $52.54 million during the quarter, compared to analyst estimates of $55.50 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts predict that Southside Bancshares will post 2.27 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Southside Bancshares by 2.7% during the fourth quarter. BlackRock Inc. now owns 4,878,860 shares of the bank’s stock worth $154,903,000 after buying an additional 130,535 shares during the period. Vanguard Group Inc boosted its position in shares of Southside Bancshares by 3.2% during the third quarter. Vanguard Group Inc now owns 1,744,152 shares of the bank’s stock worth $60,696,000 after buying an additional 54,827 shares during the period. Vanguard Group Inc. boosted its position in shares of Southside Bancshares by 3.2% during the third quarter. Vanguard Group Inc. now owns 1,744,152 shares of the bank’s stock worth $60,696,000 after buying an additional 54,827 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Southside Bancshares by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,631,651 shares of the bank’s stock worth $51,805,000 after buying an additional 67,337 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Southside Bancshares by 20.0% during the fourth quarter. Handelsbanken Fonder AB now owns 719,787 shares of the bank’s stock worth $22,853,000 after buying an additional 119,787 shares during the period. Institutional investors and hedge funds own 52.84% of the company’s stock.

About Southside Bancshares

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposit.

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